1700/1704 Lightsey Rd, Austin, TX 78704

This is a true UNICORN, a rare development opportunity in the heart of south Austin! Nestled in one of Austin’s most sought-after neighborhoods, this exceptional 2.98-acre two-lot tract offers a once-in-a-generation opportunity to create something truly special. Held in the same family since 1940, the property is now ready for its next chapter. With SF-3 zoning in place—and potential for rezoning to SF-6—this land is primed for a thoughtful infill development. A full suite of studies has already been completed, including a boundary, tree, and topographic survey, along with a detailed feasibility report that outlines how up to 24 detached 2,300-square-foot residences with 2-car garages could be built—while preserving 31 Protected and Heritage trees, in compliance with City of Austin guidelines. This is more than a development site; it’s a rare canvas for building a new community in vibrant South Austin, where opportunities of this scale and character are increasingly hard to find.

South Congress is the only street in Austin where you can buy custom cowboy boots, eat handmade sushi at a ten-seat counter, and watch 1.5 million Mexican free-tailed bats take flight from a bridge - all within a half-mile walk. That density of experience makes this neighborhood different from every other part of the city. It is a real neighborhood where people live full lives, and the commercial strip at its center happens to be the most photographed street in Texas.

The corridor runs along Congress Avenue south of Lady Bird Lake, roughly from the bridge to Oltorf Street, with residential streets extending east and west. Downtown is a ten-minute walk across the Congress Avenue Bridge. The Texas Capitol is visible from the north end. Perla's does coastal seafood on a patio that becomes a scene on weekends. Home Slice Pizza has had a line since the day it opened. Aba serves Mediterranean with a rooftop view. June's All Day handles the all-day cafe role. Otoko is one of the most exclusive dining experiences in Texas. Magnolia Cafe remains a late-night institution. Jo's Coffee is where the famous mural lives, and Lenoir offers a prix fixe wine garden.

Craftsman bungalows from the 1920s through 1940s give the neighborhood its character, with front porches and mature pecan trees. Modern condominiums line the avenue itself. Contemporary townhomes fill spaces between. Bungalows on decent lots start around $700,000 and can exceed $1.5 million. Condos range from the mid-$400s to over $2 million for luxury high-rise units with downtown views. Lot sizes for single-family homes are small, often under a tenth of an acre, which keeps the density high and the walkability real.

Travis Heights Elementary serves many addresses and carries a loyal following among families wanting a diverse, walkable community. Fulmore Middle School and Travis High School are the secondary feeders. The schools are urban public schools in the truest sense: diverse student bodies, active parent organizations, and programs that benefit from a central location. Some families supplement with Austin Montessori and other private options nearby.

The street itself is a walking experience: vintage clothing, record shops, galleries, and restaurants on both sides of a wide sidewalk. Barton Springs Pool is a short walk west. Blunn Creek Greenbelt cuts through the residential streets. The Lady Bird Lake Boardwalk puts residents on the water trail system without driving. The Congress Avenue Bridge bat colony draws crowds March through October. Social energy peaks on weekend evenings when the avenue fills and patios at Perla's and Home Slice spill onto sidewalks.

South Congress is not directly comparable to suburban luxury neighborhoods because the product is fundamentally different. East Austin has more new construction and grittier energy. Travis Heights is quieter with larger lots. Rainey Street has been consumed by high-rises. South Congress maintains a balance between commercial energy and residential livability none of those can match. The bungalows have proven to be strong long-term holds.

South Congress is for buyers who want to live inside Austin's cultural heartbeat. It works for couples, creatives, and professionals who prioritize walkability and social energy over square footage. It works for investors who understand that a Craftsman bungalow on a South Congress side street is one of the scarcest asset classes in the city.